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Some coins were redistributed which is always a good sign.
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These Italian banks are effectively dead. The Italian should establish bitcoin to be the main currency and bitcoin banks.
With the bitcoin, the Central Banks cannot print it. People have to work hard to get it. It is good for the social security. Today I read on local business news paper about Italian banking sector. It is about to crash thanks to overdue and non-currant loans that have not yet been written down from the balance sheets. It said that 20 % of the loans are defaulted but not written down from one certain bank.
Now bitcoin is very cheap, the inflation is low. If one bank decides to start acquiring all the bitcoins it can get under 100 000 usd, it probably will get a nice chunk of coins for under 100 000 usd and then defending that rate. That can help their balance sheet enormously and save from the coming inevitable crisis.
Please share and make this message known to the bankers. Bitcoin is the financial Savior of the world.
lol. Complete fucking idiocy on toast! Gold bullion cannot be printed but still the central banks own it. Bitcoin is similar but with lower storage costs. Therefore, buying bitcoins and thus driving the price up, the Italian banks get valuable assets to their balance sheets. Mathecat, what is the idiocy here? |
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We will see if head and shoulders are forming now. Looks very bad now.  |
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Many have now margin long positions? At least bitcoin loans are taken within a heartbeat (is the demand originated from Monero or some other coin?)
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Everything is moving more slowly than I anticipated. But we still hurl towards 2021.
For Monero I am not going to give time until 5 years. I think it is too long time and most likely there will be better alternative before that. If there is no real growth this year, I am pretty unsure if this project will ever grow to any significiant measures. If Monero project fails, I think it is not time to blame anyone - just move on in life. There will be new opportunities also down the line. How are you measuring growth? Price or Market Capitalization? There is a big difference. https://coinmarketcap.com/currencies/monero/#chartsEdit: ... but not for long. See the post above. Cool but from the perspective of the investors there should be some capital gain to make it attractive to hold. So far only dumps we have seen and a couple bubbles that form the shape of a hand showing the middle finger. |
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Everything is moving more slowly than I anticipated. But we still hurl towards 2021.
Yes as it seems 2021 will be the Year of Crypto. No sure if you are serious but my plan is to give this 3 years and 3 months more. This morning I saw that Monero was back on ShapeShift. Then I saw that some of the buy wall at 2777 was eaten so I waited expecting it to be dumped on which it was. Now I ponder. I think you chose perfect day. 2019.10.27 4th Halving day! Available supply: 17,294.533 XMR Daily emission: 1582 XMR Daily inflation: 0.00915% % Mined: 93.75%BTC will same day have: Available supply: 17,677.800 BTC Daily emission: 1800 BTC Daily inflation: 0.01018% % Mined: 84.18% How did you calculate this? I thought there is no limit on how many Moneros will be mined unlike there is upper limit in bitcoin. |
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Everything is moving more slowly than I anticipated. But we still hurl towards 2021.
For Monero I am not going to give time until 5 years. I think it is too long time and most likely there will be better alternative before that. If there is no real growth this year, I am pretty unsure if this project will ever grow to any significiant measures. If Monero project fails, I think it is not time to blame anyone - just move on in life. There will be new opportunities also down the line. |
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Very short term speculation: The volume is getting lower in the current decline. Usually it is a sign that the uproar is on its way and the price will start to grow. Seems there is some kind of resistance on 0.003. I hope that this resistance will be crossed for good and Warz can sell all his coins between 0.003-0.004 and then we can move to higher prices (he likes to sell there). Also, the longer we can rise without Aminorex becoming very bullish and signaling good buying opportunities, the higher it can climb. This is like playing cards, you need to read your opponents and know them.  |
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...
Given this wide margin and the tightness of Monero trading range it is pretty unlikely you will be able to trade much. Also, why would you sell if the price rises beyond the line? Isn't it a potential breakthrough and the start of new period of higher growth?
On the other hand, why would you buy a coin that is dumping, isn't it potential start of bearish cycle?
-------------------------
My speculation: I am slightly bullish... We will see if Monero can reach 0.003... The trading volume is low now (been it pretty much since 2014).
2016 is a year of results, but we will see if it is possible to get a nice uptrend this year. Still the charts are bearish if you look them from ATH.
The current community very unlikely can drive the price up - investments are needed outside and the outreach should take place. Unfortunately Peter Todd is not the person I am refering to. Some big names would be beneficial for Monero (a billionaire from Forbes for instance etc.).
I would not place much weight on on the early ATH in 2014 because of the change in market capitalization, https://coinmarketcap.com/currencies/monero/#charts. One cannot simply extrapolate technical analysis from stocks (where price follows market capitalization) to a POW crypto - currency during its first two years. There are critical aspects of technical analysis that break down in such an extrapolation. My take is that 0.0043 XBT is a critical resistance point here. As for the 2014 ATH, I am not sure at all. Even though the number of coins have grown since June 2014, it still would be pretty disappointing if new ATH will not be reached - that makes Monero pretty much the same class with all the other alts here which cannot grow back to the initial pump because of the rise in the number of coins. In case of Monero, the emission is less than 50 % from those levels so technically it should be possible even to maintain it. Bear in mind, the emission also represent very small portion of the trading so it is mainly trading with other bagholders since the real world use of XMR is very limited afaik. |
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You sound very wistful.
Yes. You never know when Aminorex mentions the famous words: "I am bullish".  There is pretty much 2 directions: up or down. Steady is only for short term a possibility. Mostly Monero has gone down and if you take the chart from the beginning you see these rises look just dead cat bounces compared with the peak in the beginning. For your comfort, the same pattern is repeated almost in every alt (Etherium might be an expection), but I am not sure if the comparison will help. Let's say, I believe once I see. I own Moneros and sure it is in my best interest to pump it to the skies but I am not sure if it is possible to drive it even beyond ATH not to mentioning the Moon TM. |
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For now:
Draw a straight line from the May 31 low through the July 20 low. Below that rising line, I will buy.
Draw a straight line from the May 18 high through the July 10 high. Above that rising line, I will sell.
I will guess that this rule will hold for at least a week if neither line is crossed in that time, maybe longer. The ramp is too steep to hold through August, though. Past 340k the likelihood of a >10% correction rises quadratically as we approach 440k, and goes exponential, with increasing expected magnitude, thereafter.
All these numbers are intended to be very fuzzy.
I get the impression that, at this hash rate, miners on average tend to withhold their stock below $2. Just a vague impression, mind you, and over the short term real-time miner sales are not very significant to price nowadays, since the total reward is only about 1% of exchange volume, and declining, but in the past, over weeks and months, the then-prevailing miner preference level has been a pretty significant price-attractor.
If I had a clever way to raise hash rates, I certainly would. Obviously, I don't.
Given this wide margin and the tightness of Monero trading range it is pretty unlikely you will be able to trade much. Also, why would you sell if the price rises beyond the line? Isn't it a potential breakthrough and the start of new period of higher growth? On the other hand, why would you buy a coin that is dumping, isn't it potential start of bearish cycle? ------------------------- My speculation: I am slightly bullish... We will see if Monero can reach 0.003... The trading volume is low now (been it pretty much since 2014). 2016 is a year of results, but we will see if it is possible to get a nice uptrend this year. Still the charts are bearish if you look them from ATH. The current community very unlikely can drive the price up - investments are needed outside and the outreach should take place. Unfortunately Peter Todd is not the person I am refering to. Some big names would be beneficial for Monero (a billionaire from Forbes for instance etc.). |
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It seems like somebody heard about Vinklevoss brothers already, price is 3% up while all other crypto taking a dive.
Probably a good time to invest while XMR is still cheap !
Ít is not a reason to go all in XMR if Peter Todd or someone else says nice complements on XMR. If Wall Street Journal writes they have bought in, it is more bullish (or they are going to buy - and obviously this kind of news you cannot read), it is bullish. |
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http://forklog.net/exante-winklevoss-brothers-etf-to-skyrocket-bitcoin-price/Monero mentioned ! " FL: Your fund was launched a few years ago. How many cryptocurrencies have entered the market during these years? Do you invest in anything, besides bitcoin?
AK: Yes, the other cryptocurrencies, such as Litecoin, have appeared after the first bitcoin “boom”. Their number was rising, but, to tell the truth, we were not interested in it at all. It was funny. It was something like pump-and-dump scheme. Technologically, we were only interested in Ethereum, yet we did not invest. Actually, after a more detailed assessment, I am in doubt that we will. We are also interested in Monero. Its creators, at least, have made a technologically real great thing that makes this project more valuable when compared to bitcoin. We like it. That’s all I guess."
I hope their interest in Monero turns to investment into Monero. I think, the marketcap needs boost to become lucrative in the eyes of people. Now marketcap is smaller than the marketcap of many small cap company's marketcap - and this is supposed to be a world reserve currency... |
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Almost and soon are the words that describes Monero perfectly. (GUI is almost here and soon ready). |
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If you have considered entering in margin long position with XMR but was not willing to take high bitcoin interest rates, now the rates have gone down a little offering very low annual bitcoin denominated cost for borrowing bitcoins for the purpose of buying bitcoins. The annual rate is around 3-4 % only these days. Ladies and gentlemen, if you trust Monero will be higher within 1 year or so more than 3-4 % from the current levels, you might want to consider taking long positions. But be careful, make sure the estimated liquidation price is low enough so that you may not get liquadated at the bottom if there is a sharp flash crash. Therefore, buy some extra Moneros with real money, put them to margin account and start taking margin long positions. However, margin trading is risky but also if it plays right for you might be wealthy within 1 year, and the cost is only a few percentages.  Can't lenders change rates after the lending period ends? Yes, when the period ends and you have open loans, it will be refinanced with the lowest ask and the interest part will be paid to the lender. Over all it seems bitcoin lenders are satisfied with pretty low interests these days when the inflation rate of bitcoin has dropped. |
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If you have considered entering in margin long position with XMR but was not willing to take high bitcoin interest rates, now the rates have gone down a little offering very low annual bitcoin denominated cost for borrowing bitcoins for the purpose of buying bitcoins. The annual rate is around 3-4 % only these days. Ladies and gentlemen, if you trust Monero will be higher within 1 year or so more than 3-4 % from the current levels, you might want to consider taking long positions. But be careful, make sure the estimated liquidation price is low enough so that you may not get liquadated at the bottom if there is a sharp flash crash. Therefore, buy some extra Moneros with real money, put them to margin account and start taking margin long positions. However, margin trading is risky but also if it plays right for you might be wealthy within 1 year, and the cost is only a few percentages. |
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Yeah, liquidity tends to dry up before a big move. Liquidity impedes motion, like running in deep surf
BTC seems oversold now.
The weak hands need to be shaken and they need to have cash so that they have money to buy their coins back on the Moon. |
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I think the weakness of Monero is the constant inflation. The idea of coins being mined for ever doesn't incentify adaption for people who want to preserve their wealth.
Monero is much like Doge coin but lower inflation percentage. To maintain any value people need to buy coins on constant basis (like in fiat - to maintain the value there need to be economic growth which hopefully exceeds the rate of inflation).
How much XMR will be lost to dust and misplaced keys each year? I have no idea. Mainly it is traded back and forth in exchanges, and it is very unlikely to see the ATH anymore. Do not get me wrong, I want to see it but it is not probable, only very few people are trading here with Aminorex (that can be seen on the trading volumes). |
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I think the weakness of Monero is the constant inflation. The idea of coins being mined for ever doesn't incentify adaption for people who want to preserve their wealth.
Monero is much like Doge coin but lower inflation percentage. To maintain any value people need to buy coins on constant basis (like in fiat - to maintain the value there need to be economic growth which hopefully exceeds the rate of inflation).
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In the long term, the bitcoin price will rise due to mass adoption. In 14 years, the bitcoin price could be $200,000.
I think you are pretty conservative here. Despite the adaption rate will decline when the majority of the masses have adopted bitcoin as their currency, the inflation is also getting lower. Therefore I think 10 000 % increase after each blockhalving is actually quite realistic. That means, the current blockhalving should result price of around 60 000 usd/btc sometime in the coming years. The block halving of 2020 will make the price to millions of dollars per bitcoin so 2030 holding even 0.1 btc should be able to make you a millionaire not to mention of holding 10 btc. The advantage of owning more bitcoins is sooner millionaire status. I don't see how the inflation rate decrease once more people use to give demand on coin, isn't it should be the other way around? Inflation should increase fast because it will be use for more users. In fiat system the inflation should increase with the increase in economic growth because higher GDP requires more money. The beauty with bitcoin is that it is tightly limited to 21 million coins. When bitcoin economy grows, more coins are needed and the holders need to sell but if they are like me it has to be more expensive to make me selling even a small amount of coins. Therefore Bitcoin is like a pyramid scheme where the new comers will make the price to rise and the existing holders will gain if they buy and hold the longest time. The best thing is that the new comers do not need to worry about at what price they will pay for their bitcoin - it still is a bitcoin and a part of the global digital currency pie. |
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